Ragnar Reports 11.55m Lithium Pegmatite and High-Grade Uranium Assays
Ragnar Metals advances its Swedish exploration with a significant spodumene pegmatite discovery at Orrvik and promising uranium assays at multiple new projects, while strengthening its strategic position through a key investment in Kaiser Reef.
- 11.55m spodumene-bearing pegmatite at Orrvik Lithium Project with high-grade zones
- New uranium projects in Southern and Central Sweden show strong assay results
- Historical drilling confirms broad uranium-vanadium intersections at Viken East and South
- Strategic 16.3% stake in Kaiser Reef with $8m capital raise to accelerate A1 Gold Mine development
- Cash balance of $3.23 million supports ongoing exploration and acquisition plans
Lithium Breakthrough at Orrvik
Ragnar Metals Limited (ASX: RAG) has reported a compelling advancement in its Orrvik Lithium Project in Sweden, revealing an outcropping spodumene-bearing pegmatite measuring at least 11.55 meters. This discovery, highlighted by a high-grade 3-meter zone grading 3.11% Li2O, underscores the potential for a wider mineralised zone concealed beneath surface cover. The channel sampling results, which also returned tantalum and tin values, suggest a robust lithium mineralisation that could underpin future drilling campaigns.
The company’s interpretation of resistivity data hints at a swarm of multiple stacked pegmatite dykes trending east-northeast, which may represent a significant spodumene resource. This finding is particularly notable given previous drilling efforts failed to intersect the newly identified trend, positioning Ragnar to refine its exploration strategy effectively.
Expanding Uranium Footprint in Sweden
Ragnar has also expanded its uranium portfolio with three newly granted projects: Flugen in Southern Sweden and Viken East and South in Central Sweden. Initial reconnaissance rock sampling at Flugen returned uranium assays up to 1,185 ppm U3O8, with petrographic analysis confirming the presence of uraninite and other uranium minerals. Meanwhile, historical drilling data at Viken East and South revealed broad uranium-vanadium intersections, including intervals exceeding 95 meters with uranium grades averaging around 185 ppm U3O8.
These projects are strategically located adjacent to the giant Viken and Häggån uranium-vanadium deposits, which boast multi-billion-pound uranium and vanadium resources. Ragnar’s early fieldwork has also identified new radiometric anomalies and outcropping radioactive alum shales, suggesting significant untapped potential in these tenements.
Strategic Corporate Moves Bolster Growth
On the corporate front, Ragnar has solidified its position in the mining sector through a strategic investment in Kaiser Reef Limited (ASX: KAU), acquiring a 16.3% stake and securing a 1.5% net smelter royalty on gold production from Kaiser’s A1 Gold Mine. This investment coincides with Kaiser’s recent $8 million capital raise aimed at accelerating development at the Nova Zone, a previously unmined area within the mine.
Ragnar’s cash reserves of $3.23 million provide a solid financial foundation to pursue further exploration and potential acquisitions. The company is actively evaluating new opportunities and engaging in commercial discussions, signaling an intent to expand its resource base and market presence.
Looking Ahead
With promising assay results and strategic investments, Ragnar Metals is positioning itself as a notable player in Sweden’s evolving lithium and uranium sectors. The company’s focus on refining exploration targets, coupled with its financial flexibility, sets the stage for potential resource growth and value creation in the coming quarters.
Bottom Line?
Ragnar’s Swedish discoveries and strategic stakes set the stage for a pivotal year in resource expansion and market positioning.
Questions in the middle?
- How will Ragnar prioritise drilling to expand the Orrvik lithium pegmatite given its newly identified orientation?
- What are the next steps and timelines for advancing uranium exploration at the Viken East and South projects?
- How might the royalty income from Kaiser Reef’s A1 Gold Mine impact Ragnar’s financial outlook post-July 2025?
